Steve Wynn Again Lists Beverly Hills Mansion, Price Increased to $115M

Posted on: October 8, 2021, 10:50h. 

Last updated on: October 8, 2021, 12:47h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Former casino mogul Steve Wynn is once again trying to unload one of the most lavish and expansive mansions in Beverly Hills.

Steve Wynn mansion Beverly Hills estate
A listing photo of the Beverly Hills mansion Steve Wynn is trying to sell. Interested buyers should know the billionaire is seeking $115 million for the property. (Image: Westside Estate Agency)

The 79-year-old billionaire purchased the estate, located in the 1200 block of Benedict Canyon Drive, in 2015 for $47.85 million. In early 2021, he tried to sell the 2.7-acre property for $110 million.

Interested buyers resulted in the listing price increasing to $125 million five months later. However, no contract was signed, and the house was eventually removed from the market.

Wynn’s pad is back, but with a new realtor, and a new beginning price of $115 million.

In terms of pricing, Steve Wynn believes it is the market value of this trophy property,” said Fred Bernstein of Westside Estate Agency. Bernstein made the comments to Mansion Global, an online site dedicated to the high-end residential real estate market.

Wynn’s first go at trying to sell the Beverly Hills mansion was with brokerage Hilton & Hyland. Now, the man responsible for developing several iconic Las Vegas Strip properties, including the Bellagio, Mirage, and his former company’s namesake Wynn and Encore resorts, is running with Westside Estate Agency.

Westside claims it specializes in selling some of the finest homes in Los Angeles. Its current listings include 11 homes with asking prices of $33 million or higher.

Resort Fit for a Billionaire?

Wynn bought the palatial Beverly Hills estate with the iconic 90210 zip code for less than $50 million but has much more invested in the compound. The Las Vegas Strip visionary spent heavily in renovating the property into a resort-like complex equipped with a lanai, pool, tennis court, massage room, gym, and movie theater.

Wynn brought in Roger Thomas, his longtime interior designer who helped the billionaire imagine his Las Vegas resort visions, to fully renovate the residence. The main house measures more than 27,000 square feet, with 11 bedrooms and 16 bathrooms. There’s a separate staff house, too, that comes complete with a full kitchen and three bedrooms.

The main living room, the listing claims, “is one of the greatest rooms in Los Angeles.” The exterior of the property includes an expansive flat lawn ideal for hosting outdoor events.

“This grand estate features every conceivable amenity. Perfection, elevated,” declared Westside realtors Fred Bernstein and Ethan Peskowitz.

Wynn Estate Dealings

Since exiting the gaming industry in 2018 after allegations of sexual misconduct, arguments that Wynn has long denied, the billionaire has taken a liking to the housing market.

Wynn in late 2020 bought a beachfront estate in Palm Beach, Fl., for $18.4 million. He made a nice return on the property after selling it for $23.7 million just three months later.

Wynn’s Beverly Hills mansion isn’t his only real estate asset that he’s been trying to sell. Wynn listed his Las Vegas mansion on Billionaire’s Row in the Summerlin neighborhood for $25 million in June of 2020. It never found a buyer, despite dropping the listing price to $19.5 million. The listing was removed in March of this year.